This incentive program will provide $13 million to the facility to invest in energy-efficient equipment and plant upgrades over the next 3 years to help reduce power consumption.
“We are serious in making sure that our pulp and paper mills have a competitive advantage in the global marketplace, and these investments are an indication of our government’s commitment to our forestry sector,” MLA for Peace River North, Pat Pimm said. “This investment will upgrade the mill to today’s standard saving the operators money, and reduce electricity consumption from the grid saving ratepayers money.”
The Thermal-Mechanical Pulp Program is giving pulp and paper producers a total amount of $100 million in incentives over a 3 year period to upgrade their equipment to more energy efficient model.
This will save the pulp producers approximately $17.5 million in annual electricity costs, and reduce electricity consumption 300 gigawatt hours of electricity per year saving B.C. Hydro ratepayers up to $265 million.
The demand for electricity in British Columbia is expected to grow by 40% over the next 20 years.
Investing in energy efficiency is a key component of B.C. Hydro’s Integrated Resource Plan target to meet 78% of this new demand through conservation, which is more cost-effective than acquiring new sources of power generation.
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